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Search Results 0 to 33 of about 34 (some duplicates have been removed)
various loopholes or you've said your tax cuts would be revenue neutral you wouldn't add to the deficit. let's go through how you would do that. specifically home mortgage deductions, charitable mortgage contributions. are you ready to remove those? what's going on? >> well, i've made pretty clear that my prirnls are number one simplify the code. number two, create incentives for small and large businesses to grow. number three, don't reduce the burden on high income taxpayers. and number four, remove the burden somewhat for middle income people. i don't want to raise taxes on any group of americans. those are the principles. at the same time how we carry them out would be lowering the tax rate across the board and making up for that, both with additional growth and with putting a limit on deductions and exemptions, particularly for people at the high end. those are principles which form the bases of what i would do with our tax proposal. what i want to do is to make it simpler, fairer. i want to encourage the economy to grow again. it's pretty clear that the economy is not growing at t
this year, we would still have a $300 billion deficit. you see, there aren't enough rich people and small businesses to tax to pay for all their spending. and so the next time you hear them say, don't worry about it, we'll get a few wealthy people to pay their fair share, watch out, middle class, the tax bill is coming to you. that's why we're saying we need tax reform. let's look at it this way. 8 out of 10 businesses, they file their taxes as individuals, not corporations. where i come from overseas, which is lake superior, the canadians, they drop their tax rates to 15%. the average tax rate on businesses in the industrialized world is 25% and the president wants the effective top tax rate to go above 40%. 2/3 of our jobs come from small businesses. this one tax would actually fax about 53% of small business income. it's expected to cost us 710,000 jobs. and it doesn't even pay for 10% of the proposed deficit spending increases. we're saying close loopholes primarily to the higher income people. we have three bottom lines. don't raise the deficit. don't raise taxes on the middle class.
the deficit in half, close gitmo, people said that was unrealistic, but didn't say he wasn't telling the truth. there's a difference, isn't there? >> no. closing gitmo involved an act of congress, and he wasn't able to get congress to agree with him on that question. this is basic math. >> greta: joining us our political panel, abc news senior washington editor rick klein, casey huntington, and byron york. rick, first you. i thought it was executive order to close gitmo, just needed congress to place the people. am i right? >> they realized it was going to be harder than they wanted. the distinction he's making is in terms of campaign pledgrs oche it's a stretch, obviously -- >> a stretch! it's name calling. >> there is a lots of that going on. one thing i am struck by, you have seen a shift from the obama campaign, in terps of how they are trying to discuss mitt romney. for a long time, they tried to describe him as a conservative extremist, not a flip-flopper not as a liar. we have seen that change. there has been a major strategic shift to try to paint him as someone you can't trust, rather
bernanke either, larry. >> this assumes interest rates are going to go up as deficit goes up as opposed to the fact the dollar is a currency of last resort and has kept rates chronically low. i know we've gone way far from big bird, but we probably should have anyway. >> and way over time, but it's okay. it was a good discussion. thank you both for joining us. >> thanks. >> thanks so much, everybody. we have about 40 minutes left in the program and before the closing bell sounds. we have a market down about 100 points. chb >> by the way, have you seen apple shares lower? is this stock? trouble? we're going to look at the charts on that. >> then after the bell, alcoa kicking off the earnings season tonight. chairman and ceo klaus kleinfeld breaks down the numbers with us. join me for that interview. >>> welcome back. it's been quick, the move on apple. apple shares falling into correction territory today, briefly down 10% from the highs this year. they didn't stay there long. bertha coombs has the details. over to you. >> it's been watching the technical on apple here over the last it fe
. >> bret: more on this with the panel. thank you. federal deficit topped $1 trillion for the fourth year in a row. the numbers $1.1 trillion in red for fiscal year 2012 which just ended. that is $207 billion less than the previous year. government spending fell 1.7%. tax revenue rose 6.4%. higher gasoline costs drove wholesale prices up. dow broke two-day losing streak. >> disseption in ranks of the "new york times" over the libya story later in the grapevine. up next, the still unreleased video of the benghazi attack. what does it show? [ male ann] the rhythm of life. [ whistle blowing ] where do you hear that beat? campbell's healthy request soup lets you hear it... in your heart. [ basketball bouncing ] heart healthy. great taste. mmm... [ male announcer ] sounds good. it's amazing what soup can do. stop! stop! stop! come back here! humans -- we are beautifully imperfect creatures living in an imperfect world. that's why liberty mutual insurance has your back with great ideas like our optional better car replacement. if your car is totaled, we give you the money to buy one a model yea
is mocking romney on the deficit on wall street. watch this. >> bernie madoff, criminals, and the evil genius who towered over them. one man has the guts to speak his name. >> redbird. >> big yellow a menace to our economy. romney knows it is not wall street you have to worry about, it is big bird. mitt romney, taking on our enemies no matter where they nest. lori: is this what the presidential debate should really be focused on? lou dobbs is here. lou: where should we start. melissa: i will sit back. go ahead. lou: the sesame workshop has decided they have had a belly full of being in this presidential campaign. they have asked that the campaigns cease and assist. they are a nonpartisan outfit. it really became onerous when not only the president was using big bird, but then romney to point out there have been eight mentions of big bird by president obama and five mentions of elmo and count along the mentions of libya. zero. the plant to fix the economy, zero. big bird overtaking. talk about a big bird and a small issue. it is as you say on becoming. it is disastrous for the president. he lo
is he's talking about tax cuts and deficit reduction at the same time. and the pew poll that came out earlier this week, wolf, said six in ten voters believe that romney is promising more than he can deliver. one reason bill clinton's speech was so popular at the democratic convention was he said the arithmetic doesn't add up. so you can push is this just rhetoric during a campaign, or is this real? if you want to close tax loopholes, okay, fine. what loopholes would you close? he's got to answer that. and so far hasn't done it. >> his argument is i don't want to put all that out right now. because if he's president, he's going to have to negotiate all those issues with democrats. and why put your own position out right now. >> sure. >> i don't know if his argument's going to necessarily hold. that's another matter. a lot of folks have seen romney over these past couple weeks at the debate, in the interview with me, moving more towards the center. do you see that? >> i did. i saw that particularly in your interview when he talked about the wealthy and how his tax plan would affect the
still have a $300 billion deficit. you see there aren't enough rich people and small businesses to tax to pay for all their spending. and so the next time you hear them say, don't worry about it, we'll get a few wealthy people to pay their fair share, watch out middle class, the tax bill is coming to you. jamie: stuart varney, anchor of "varney & company" on the fox business network here to tell us what he thinks about that. hi, stu, good morning. >> well look, the central quote on the economic side of the debate which policy will grow the economy and cut the deficit. paul ryan was very clear. you cut tax rates, that gives you growth. listen to this exchange. >> cut tax rates by 20% and still preserve these important preferences for middle class taxpayers. >> not mattally possible. >> it is mathematically possible. it has been done before. >> it has never been done before. >> it has been done couple times actually. lower tax rates increase growth. lower tax rates. >> now you're jack kennedy. >> well that was interruption. that was also a put-down and vice president biden woos factually
now." john boehner is rowlowering expectations saying the deficit deal probably won't happen when congress returns after the election. it's not called lame duck for nothing. but surprising absolutely no one, everyone will wait to see how who the president will be, who's sitting in the oval office. >> yeah. look, the only reason -- well, two reasons you think this whole fiscal mess gets solved in this period is, one, because they have rather large, looming deadlines like the markets wanted it to happen and tax rates will go up and defense cuts mitt romney thinks are intentional -- never mind. is other reason the such difficult decisions they want to blame it on the old congress. whoever is president, that will still will true. i say the deal gets done. if not the whole thing sh it's because people think if you go beyond the deadline. tax rates go up for a week or two they will get a better deal. who knows? >> if you want to get a vote out of people they are worried about casting to lose office and they have already lost. >> blame the other people. >> do you know where there is bipa
. >> in order to reduce the deficit, there has to be revenue in addition to cuts. >> there has to be revenue in addition to cuts. governor romney has ruled out revenue. he's ruled out revenue. >> is that true? >> absolutely. the revenue i get is by more people working, getting higher pay, paying more taxes. that's how we get growth, balance the budget. the idea of taxing people more, putting more people out of work, you'll never get there. you never balance the budget by raising taxes. >> sean: that was my next guest, jim lehrer, moderating the debate last week. the left tried to make him the scapegoat for obama's pitiful performance, but for 60 million americans it was obvious the blame laid squarely with the president himself. here is former pbs news anchor jim lehrer. nice to see you. >> good to see you, sean. >> "good evening, this is "the newshour"." >> you did that really well. >> sean: how are you doing? >> "the newshour" is doing great. the team took time to get it in place. i transitioned out and i'm very happy about the pbs news, how it's functioning. >> i felt bad for you after th
. >> in order to reduce the deficit, there has to be revenue in addition to cuts. >>> there has to be revenue addition to cuts. >> and this is ruled out. >> absolutely. >> there is revenue i get is by more people working and paying higher taxes. idea of taxing people more, putting more people out of work, you'll never get there or balance the budget. and that is my next guest and the left tried hard to make him the scapegoat for 67 million americans it was well, obvious to blame lays with the president himself. here to respond is the author of "pension city". good to see you again. >> good to see you, sean. >> you say good evening this, is the news hour. >> and that is i'm going to leave your name at the door. >> the news is doing great. it's a time took time to get it into place. i transitioned out and i'm very happy about this. >> and i felt that for you... after the debate z a lot of criticism he does. >> and how did you feel about that? >> i'm not keen on criticism. and you know, but... that was at the beginning. the criticism is pretty much gone away. people realize that spin didn't work
on the debt. the first thing he said was the issue of the debt and deficit is not just an issue of money it is an issue of morality. immoral to leave the debt to our children and grandchildren and i thought it was a strong statement and elevated the romney campaign above a kind of we can do a little better for your pocketbook next week than president obama can and put it in a bigger concept and elevated the race into who is the more are responsible steward of this country's finances and well being for the next generation. i thought it was a very important moment for mitt romney. >> geraldo: stand but youle join our all-star panel in a moment. first, news on fast and furious, folks. the botched atf gun running operation and news that hasn't been fully digested by the mainstream media. we know that one of the walked guns was used to kill agent brian terry but it took the spanish language news network to reveal that the walked guns were also used if you recall the horrific 2010 massacre of mexican teenagers in the border city of juarez. they broke into a birthday party and started firing an
the deficit to pay for it. if we can't trust him here... how could we ever trust him here? ♪ ♪ we're lucky, it's not every day you find a companion as loyal as a subaru. love. it's what makes a subaru, a subaru. zoirchgs a space rocket blasted off from cape canaveral last night launching the fist private flight from the international space station. >> liftoff of the space x falcon 9 rocket. launching dragon to the international space station and returning cargo -- >> the unmanned capsule called dragon is on its way to the space station after separating from its rocket. it's carrying 1 240us pounds of cargo. the company has been contracted by nasa to fly a dozen flights to resupply the space station. >>> fearless felix, he is also known as felix baumgartner, and he has gotten to be pretty fearless. he actually is going to jump out of a balloon. this is 23 miles above the earth. this is exactly what he plans to do. the idea is to set a world record for a freefall. he has already tried it from a lower altitude. brian todd is live in roswell, new mexico. wow. that's pretty cool. he was supposed to
that deficit. so they still think they've got openings here, wolf. and they do. anything can happen. overnight's a lifetime in politics, particularly when it comes to a close presidential race like this. >> and all those folks thought that president obama had it wrapped up a few days ago, not yet. gloria, stand by. mitt romney was clearly hammering away at the president's foreign policy before a military audience today and sketched out a stronger, bolder response by a romney administration. cnn's national political correspondent jim acosta has more on that. >> reporter: wolf, after millions of americans watched mitt romney go toe to toe with president obama at their first debate, the gop nominee now wants voters to see him as commander in chief. he's done just that in a series of foreign policy speeches, including one here at the virginia military institute where he kudz the president of allowing the middle east to drift closer towards war. telling a crowd of cadets and supporters at the virginia military institute that hope is not a strategy on foreign policy, mitt romney wasted no time in bu
and how they would help the middle class and the jobs and how they would reduce the debt and the deficit you don't want to be at a budget committee hearing parsing numbers so to speak. i think paul ryan has done an excellent job representing the middle class coming from a wisconsin background and able to put that state into play and to keep the momentum going. i think we'll see a great debate night this thursday. >> i know. can't wait. thanks so much for being with us this morning thank you. >> it was billed as a rumble in a temperature cold room and things did heat up this weekend. the daily show's jon stewart facing off with i am fox news pil o'reilly at a mock debate and if last week's debate left you hungry for zingers, these guys did not disappoint. >> you have to let the free marketplace run a little bit. i understand the wall street stuff and i got it. i am not a big wall street guy. you have to let them employ. you have to unleash the machine. >> yes, because what could go wrong? >> like we're doing real great now, huh? >> we're not doing real great now. if you take your eye from
federal budget deficits. what governor romney has done i think is make it easier to debate on both sides in terms of what are the next steps we need to take as americans to stay engaged and contribute so that this region doesn't become more turbulent and more dangerous. so it become as little bit more acceptable -- politically acceptable perhaps offering the libyans more assistance for their security forces or the president morsi in egypt is willing to stay in positive fashion for us and israel to offer more assistance that. is stone and style of debate i would welcome because i feel that politicians otherwise tend to fear we have to talk about retrenchment and withdrawal given problems we're having back here in the united states. that is not necessarily good for our foreign policy. romney pushed it in the better direction. jon: with our murder of our first ambassador in 30 years, more than 30 years. turbulent and dangerous is appropriate question. jenna: whether or not the tide of is receding. from that standpoint a lot of philosophy is made. a lot of foreign policy is comes whether you
to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? >>> less than a month away now before election day. and how can we forget political ads, they remind us each and evy hour on the hour what is happening now. with barack obama and mitt romney had to spend hundreds of millions of dollars to define themselves for us while, of course, vilifying the other. that's why when i draw your attention to this documentary, that airs tomorrow night, on pbs, it is from the folks who bring us front line. here is just a preview. >> i got my start as a community organizer. >> i know how the private sector works. i know how jobs come. i know how they go. >> for years, these two men have been telling us their stories. >> he keeps a lot of his views to himself. >> he knows that every step he takes is a potential land mine. >> people have great respect for obama and will still say this is most insular administration in their lifetime. >> this october, front line looks for meaning in the lives, choices an
would blow a hole in the deficit, cause much deeper cuts in medicare, medicaid and education and the environment and knock our economy off track raising interest rates, mortgage rates and car payment. >> well, deja vu when you listen to al gore now and joe biden and we'll watch to see if that plays out tonight. tonight, who do we have on stage? vice president joe biden and chairman paul ryan and they want to dbate which ticket is best for the middle classnd expect talk about their hometown routes. >> i proudly represent the state of delaware from years in the senate, but i come from a state, i come from pennsylvania -- i come from scranton and the same things in pennsylvania have basically happened here in ohio and, i tell you what, both, both are coming back. >> i live in janesville. i live about two hours northeast of here. it looks just like this town. actually, this looks, very much like some buildings we have in wisconsin. >> hear a lot of that tonight. joe biden and paul ryan on the campaign trail. go into the small, blue collar towns in iowa, ohio, in pennsylvania and
Search Results 0 to 33 of about 34 (some duplicates have been removed)